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A shopper browses the bread section at a Wal-Mart store in Santa Clarita, California April 1, 2008. REUTERS/Mario Anzuoni

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

Bank of America begins layoffs: reports

Thu Jan 8, 2009 7:52am EST
A man walks near a Bank of America branch in New York's Times Square, Decemeber 11, 2008. REUTERS/Brendan McDermid

(Reuters) - Bank of America Corp began laying off staff in its investment bank and capital markets group, the New York Post said, citing sources.

U.S.  |  Economy

It was unclear exactly how many employees were being cut, the paper said.

The bank, which has been grappling with slackening business due to the recession, said last month it would shed 30,000 to 35,000 jobs over three years.

Bank of America could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by David Holmes)
U.S.
Economy


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